Which of the following is NOT one of the factors that influences the supply of a product?
A) technology
B) income
C) number of suppliers
D) expected future prices
B
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An increase in productivity will ________.
A. increase aggregate supply and aggregate demand B. increase aggregate supply C. decrease aggregate supply and aggregate demand D. increase aggregate demand
The "law of demand" states that, other thing remaining the same, the higher
A) the price of a good, the lower is the demand for this good. B) consumers' incomes, the greater is the demand. C) the price of a good, the higher is the quantity demanded. D) the price of a good, the smaller is the quantity demanded.
Suppose the production function for T-shirts can be represented as q = L0.25 K0.75. Show that the production function has constant returns to scale
What will be an ideal response?
Indonesians, for example, have a lower standard of living than Americans because they have a lower level of productivity
a. True b. False Indicate whether the statement is true or false